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Friday, February 08, 2008

Inflation rose to 4.11pc

Inflation rose to its six-month high of 4.11 per cent for the week ended January 26 as against 3.93 per cent in the previous week, mainly due to rise in prices of food articles and manufactured items.

The wholesale price-based inflation stood at 6.69 per cent in the corresponding week a year ago.

According to official figures released on Friday, prices of maize, moong, wheat, condiments and spices, and bajra moved up during the week. Barley became cheaper. In the manufactured food category, salt, black tea leaf, bread and buns, and mustard oil got dearer.

However, amid speculation of petroleum price rise, the index representing fuel, power, light and lubricant remained unchanged at the previous week's level.

Among other manufacturing items, toilet soaps, caustic soda, synthetic rubber, and truck and bus chassis moved up.

The inflation data justified the RBI's cautious approach of not changing the key interest rates in its quarterly review of the monetary policy on January 29, despite expectations of a cut on arguments of lower price level.

source: NCTVprofit

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